SEC Modifies 'Confirm Nor Deny'

By

Andrew Ackerman

January 7, 2012

WASHINGTON—The Securities and Exchange Commission will no longer allow companies to settle its civil cases by neither admitting nor denying guilt if at the same time the companies admit to or are convicted of criminal wrongdoing.

The agency characterized the changes as minor. In a statement Friday, Robert Khuzami, the SEC's director of enforcement, said the new policy would apply only to "a minority" of its cases.